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Cosmetic Packaging Market is Set to Experience Revolutionary Growth by 2026
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Rising Demand for Hair Care & Skin Care Products
Cosmetic packaging is gaining market traction with remarkable growth throughout the forecast period primarily, due to an increase in demand from millennials in emerging markets such as India, Brazil, and South Africa. Global hair care & skin care industries are growing with higher annual growth rates. Anti-ageing products such as creams, shampoos, and hair conditioners are some of the prominent products driving the global cosmetic packaging market. Rising awareness of anti-aging products amongst the female population is one of the primary factor boosting the sales of the global cosmetic packaging market.
E-commerce penetration into rural and urban areas is driving the global cosmetic industry sales, which, in turn, are driving the growth of the global cosmetic packaging market. Rising cross border sales and penetration of internet into emerging markets is expected to boost the sales of cosmetics. The increasing presence of millennials on social media helps them explore more global cosmetic brands which, in turn, is driving the sales of cosmetic packaging.
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The growing number of commercial setups is driving the global cosmetic packaging market. Factors such as changing lifestyles of the people, services provided by the beauty and wellness industry, increasing middle-class population of the Asia Pacific countries is expected to drive the growth of the global cosmetic packaging market. Moreover, the usage of color cosmetics in commercial establishments is comparatively higher than in households. This trend is expected to continue during the forecast period and is expected to drive the demand for cosmetic packaging. Improving economic conditions, coupled with the rising emphasis on grooming, in the emerging markets is the major driver influencing the demand for cosmetic packaging.
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